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Tracking weak trend in precious metals in Asian region, silver prices fell by over one per cent in futures trading today as speculators reduced their positions.
At the Multi Commodity Exchange, silver for delivery in July declined by Rs 591 or 1.09 per cent to Rs 53,856 per kg, with a business turnover of 6,998 lots.
Similarly, the white metal for delivery in September fell by Rs 685 or 1.06 per cent to Rs 54,619 per kg in 357 lots.
Analysts attributed the decline in prices to reducing of positions by speculators, after the white metal weakened in the Asian region.
Meanwhile, silver shed 1.08 per cent to $35.81 an ounce in the Asian region.
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